Strong energy prices, geo-political tensions and weakness in the dollar are all supporting gold prices and exchange traded funds (ETFs). The Economic Times reports that a firming trend in international markets, also boosted the trading sentiment somewhat. Gold in Asia rose on speculations about the U.S. inflation concerns, since the precious metal is considered a safe haven for investors.
Gold ETFs to look into:
- streetTRACKS Gold Shares (GLD), up 22.9% year to date
- Market Vectors Gold-Miners (GDX), up 16.2% year to date
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.